“Niftys 17800-18200 range has been holding for some time now. To break the upper end of the range, the market needs positive triggers. Early Q3 results broadly have been positive with IT companies and banks delivering good results,” Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.

Experts feel the 17,800-18,200 range is expected to break on either side after the announcement of the Budget, hence, if the Nifty breaks 18,200, then 18,500 is the level to watch out for

​​If the Nifty crosses and sustains above 18,200 level, it would take the index towards 18,500 levels, analysts said. HDFC Bank, TCS, L&T, UltraTech Cement, Sterlite Technologies, Persistent, ONGC, Coal India, and Vedanta are some of the stocks that look bullish on charts, according to analysts.

US stocks rallied to close higher on Friday, as the S&P 500 and Dow snapped a three-session losing streak and the Nasdaq rose more than 2%, as quarterly earnings helped lift Netflix, while Google parent Alphabet climbed after announcing job cuts. Shares of Netflix jumped as the streaming company added more subscribers than expected in the fourth quarter and said co-founder Reed Hastings was stepping down as chief executive. Alphabet Inc was the most recent company to announce job cuts as it said it was cutting 12,000 jobs, sending shares higher.

The brokerage is positive on APL Apollo as it is a downstream player, hence is relatively insulated from adverse price movements.

APL Apollo Tubes has formed long bullish candle on the daily charts with above average volumes, making higher high higher low for second straight session with momentum oscillator RSI trading above 60 level.

"Global news flows would continue to dominate the outlook for the Indian metals sector. A faster reopening in China and stimulus has provided a new lease of life for the sector, although on ground demand improvement is still elusive. Post CNY demand would be key for further rerating," said brokerage firm CLSA.

According to global research and broking firm CLSA, the steel outlook improved while global news flows would continue to dominate outlook for the Indian metals sector. A faster reopening in China and stimulus has provided a new lease of life for the sector, although on ground demand improvement is still elusive, it said.

I think for the auto sector, particularly passenger vehicles, the growth run continues. In between we had some challenges on the margin front and for Maruti particularly their overall product basket was not looking that good with competition coming in from the Kia and the GM and many other names. But I think in the last six months or so, if you see their product offering has been much, much better.

While the recent price hikes in the regional market and expectations of better demand in Europe appear encouraging, we would wait for more clarity on stimulus measures in China and their impact on the overall steel demand, it said.

Net Sales are expected to increase by 19.9 percent Y-o-Y (down 2.4 percent Q-o-Q) to Rs. 3,872 crore, according to Sharekhan.

I think having some sort of a cap on what sort of exposure you are taking when it comes to PSUs would definitely be advisable. This is because when you are going through a turbulent time and 2023 right from the beginning looks like it is going to be a difficult year to navigate, we have to remember that what kind of exposure in which kind of sectors and stocks you are taking exposure. That becomes very crucial so we would avoid high beta low quality names when it comes to this year.

Motilal Oswal is bullish on APL Apollo Tubes recommended buy rating on the stock with a target price of Rs 1400 in its research report dated January 06, 2022.

While the addition of high margin products from the Raipur unit and the growing share of VAP should result in margin improvement. The brokerage expects a revenue/EBITDA/PAT CAGR of 16%/24%/31% over FY22-25.

The brokerage is also positive on the counter as being a downstream player, it is relatively insulated from adverse price movements.

“We have attempted a very disciplined approach. We never went for over concentrated investment into any sector or stock and wherever we felt there are massive macro headwinds or challenges. We have exited those sectors or stocks. For example, we exited IT and pharma in December 2020 or early 2021, seeing the challenges.”

However, they do expect selective stocks within the pack to do well given the positive business growth prospects. Steel companies shares rallied in the recent sessions as Chinese steel demand is expected to benefit from the recent stimulus measures announced by the government to aid the real estate sector.

“When the low PE neglected stocks start showing growth for one-two quarters, the market bids them up very aggressively and that is what we are seeing. Chase the growth. If you get growth, value and neglect, that is where the largest money will get made but on the compounding side.”

APL Apollo Tubes, incorporated in the year 1986, is a Mid Cap company (having a market cap of Rs 29325.37 Crore) operating in Metals - Ferrous sector.

“The index is trading near the key hourly moving averages as well as near a rising trendline on the hourly chart. 18600 is a key support from where the index can start moving up again. Overall, the short term outlook continues to be positive for a target of 19,000,” Gaurav Ratnaparkhi, Head of Technical Research at Sharekhan by BNP Paribas said.

“As the country goes through stages of development, the wealth of the population also increases as does the institutionalisation of domestic capital and India is now at a cusp where we have enough savings channelled into financial services and the capital markets where we are not as reliant on foreign inflows or foreign capital of more developed markets as we have been in the past. ”

“The crucial short-term moving averages are sitting below the index value, confirming the positive trend. The trend is likely to remain bullish as long as it remains above 18,600 as the support level shifts higher. On the higher end, resistance is visible at 18,800-19,000,” Rupak De, Senior Technical Analyst at LKP Securities, said.

Most PSU banks had lost market share and were quoting at lower book values due to underperformance for the past few years. But these banks are now garnering high advances with rising system credit growth.

Stocks that were in focus included names like Jammu and Kashmir Bank which was up nearly 4%, APL Apollo Tubes which rose nearly 2%, and Castrol India which hit a fresh 52-week high on Tuesday.

“Nifty started flat following global peers and moved up higher by the end of the session. On the higher end, it moved back above 18,200. A bullish harami pattern on the daily chart suggests a recovery in the term. The trend looks sideways to positive. Going forward, 18,200 may provide immediate support below which the index may drift down towards 18,100. On the higher end, resistance is visible at 18,300/18,450,” Rupak De, Senior Technical Analyst at LKP Securities, said.

Motilal Oswal is bullish on APL Apollo Tubes recommended buy rating on the stock with a target price of Rs 1340 in its research report dated November 09, 2022.

APL Apollo Tubes Ltd., incorporated in the year 1986, is a Mid Cap company (having a market cap of Rs 26557.26 Crore) operating in Metals - Ferrous sector.

Even technical charts are suggesting there is momentum in the sector. Shilpa Rout, Derivatives - Lead Analyst, Prabhudas Lilladher said metals could soon see a turnaround move.

“In dollar terms, the Indian market probably get annualised returns of 5-6% for the entire market but of course for good companies, the returns would be much higher than that. It would be in the mid teens in dollar terms. So that is the kind of thing we are looking at going forward.”

“When there is a very bullish environment like now in India, valuations go up and the terrific bargains that you normally would want to fight for are not so plentiful. Whereas in countries which are sort of bombed out like in Turkey or South Africa, things are down a lot and there is pessimism. Brazil will be another example, So more opportunities and way more bargains.”

"PSU banking is doing well. All the PSU banks have stronger balance sheets compared to what it was a couple of years back. The event number from the banking sector is very strong. So, this is only fueling the rally. We like Federal Bank, APL Apollo Tubes, Praj Industries, and Campus Activewear for the next 1 year."

Most stocks trading above the three key indicators are in sectors such as consumers, pharmaceuticals, capital goods, infrastructure, public sector enterprises, and select banks. Majority of the IT stocks are below crucial moving averages, a reflection of investor aversion at this juncture.

Most stocks trading above the three key indicators are in sectors such as consumers, pharmaceuticals, capital goods, infrastructure, public sector enterprises, and select banks. Majority of the IT stocks are below crucial moving averages, a reflection of investor aversion at this juncture.

Most stocks trading above the three key indicators are in sectors such as consumers, pharmaceuticals, capital goods, infrastructure, public sector enterprises, and select banks. Majority of the IT stocks are below crucial moving averages, a reflection of investor aversion at this juncture.

Motilal Oswal is bullish on APL Apollo Tubes recommended buy rating on the stock with a target price of Rs 1330 in its research report dated October 10, 2022.

The Nifty50 is expected to face short-term turbulence as investors have become cautious of further aggressive rate hikes by the US Fed after the release of US Job data last Friday.

However, the payoff of strategy is that of limited profit and limited loss as there is one out of the money sold put. The maximum gains will be restricted up to Rs 8,125 because the gains of a long 39,000 strike Put will be offset by the sold 38,500 strikes Put if Nifty Bank closes below 38,500 on expiry.

A close below Rs 1,100 could take the stock towards Rs 1,050-1,035. On the flip side, as long as it is trading above Rs 1,100, the uptrend texture is intact. Above the same, it could move up to Rs 1,200-1,225 levels.

Bajaj Finance, Cipla, Britannia, IndusInd Bank and HUL were among the top losers on NSE.

He said there is intense competition going forward because when global central banks are fighting inflation, commodities do not do well. "Commodities in general and metals are underweight, and steel and metal stocks are sell-on-rise."

Sharekhan is bullish on APL Apollo Tubes has recommended buy rating on the stock with a target price of Rs 1275 in its research report dated October 04, 2022.

For the quarter ended June 30, 2022, the company reported consolidated net sales of Rs 3,438.55 crore, up 36 per cent from the year-ago quarter's net sales of Rs 2,534.28 crore. The company reported a net profit of Rs 120.67 crore for the latest quarter.